The government would impose a 7 . 5 percent income tax surcharge on all taxpayers next year, while the Social Democrats would free low-income taxpayers and raise the surcharge for higher earners.
42.
City Council Speaker Peter F . Vallone proposes extending the personal income tax surcharge for five years and using its $ 1 . 3 billion to repair schools and build new ones.
43.
In a budget pact announced on Nov . 17 after a five-month standoff between the mayor and the City Council, the two sides agreed to eliminate the 12.5 percent income tax surcharge.
44.
Four members of the Free Democrats, the junior partner of the coalition, threatened to vote against the 1997 budget unless an income tax surcharge to pay for eastern German reconstruction is removed.
45.
January's ambitious package of tax cuts has been reduced by 75 percent, meaning among other things that the 12.5 percent income tax surcharge may no longer expire at the end of the year.
46.
At the moment, the only proposal on the table that would do that is the speaker's plan to extend the personal income tax surcharge for three years, an idea the mayor has dismissed.
47.
By far the largest tax cut that Giuliani now wants to scrap involves the 12 . 5 percent surcharge on the personal income tax surcharge that is paid by most working New Yorkers.
48.
In a budget pact announced on Nov . 17 after a five-month standoff between the mayor and the City Council, the two sides agreed to eliminate the 12 . 5 percent income tax surcharge.
49.
The earmarked Proposition 63 revenue that would be diverted comes from a 1 % state income tax surcharge imposed on the portion of a taxpayer s taxable income in excess of $ 1 million.
50.
The Democratic leaders of the City Council have proposed extending the income tax surcharge and using the revenues to pay for $ 1.4 billion in school construction and repairs over the next four years.
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